Merit Financial Group LLC lessened its holdings in shares of Warner Bros. Discovery, Inc. (NASDAQ:WBD – Free Report) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,895 shares of the company’s stock after selling 2,169 shares during the quarter. Merit Financial Group LLC’s holdings in Warner Bros. Discovery were worth $253,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of WBD. Principal Financial Group Inc. increased its position in shares of Warner Bros. Discovery by 3.1% during the third quarter. Principal Financial Group Inc. now owns 2,579,571 shares of the company’s stock worth $21,281,000 after acquiring an additional 78,653 shares in the last quarter. Hauser Brothers GmbH raised its stake in shares of Warner Bros. Discovery by 56.1% in the third quarter. Hauser Brothers GmbH now owns 1,225,000 shares of the company’s stock worth $10,106,000 after purchasing an additional 440,000 shares during the last quarter. Private Management Group Inc. lifted its holdings in shares of Warner Bros. Discovery by 37.7% in the third quarter. Private Management Group Inc. now owns 6,886,143 shares of the company’s stock valued at $56,811,000 after purchasing an additional 1,886,868 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Warner Bros. Discovery during the third quarter valued at approximately $1,474,000. Finally, Blueshift Asset Management LLC bought a new stake in Warner Bros. Discovery during the third quarter worth $588,000. Institutional investors and hedge funds own 59.95% of the company’s stock.
Analysts Set New Price Targets
WBD has been the subject of several recent analyst reports. Guggenheim upped their target price on shares of Warner Bros. Discovery from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Barclays upped their price objective on shares of Warner Bros. Discovery from $8.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. KeyCorp lifted their target price on shares of Warner Bros. Discovery from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Raymond James upped their target price on Warner Bros. Discovery from $11.00 to $12.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Moffett Nathanson upgraded Warner Bros. Discovery from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $9.00 to $13.00 in a report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Warner Bros. Discovery presently has a consensus rating of “Moderate Buy” and an average price target of $11.76.
Insiders Place Their Bets
In other Warner Bros. Discovery news, insider Savalle Sims sold 169,436 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $12.36, for a total value of $2,094,228.96. Following the completion of the transaction, the insider now directly owns 599,317 shares of the company’s stock, valued at $7,407,558.12. This trade represents a 22.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.80% of the stock is owned by corporate insiders.
Warner Bros. Discovery Stock Down 0.3 %
WBD opened at $10.25 on Friday. The company has a 50 day moving average of $10.42 and a 200 day moving average of $8.82. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 1.03. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a market cap of $25.14 billion, a PE ratio of -2.24, a price-to-earnings-growth ratio of 6.12 and a beta of 1.50.
Warner Bros. Discovery (NASDAQ:WBD – Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.79 billion. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, sell-side analysts expect that Warner Bros. Discovery, Inc. will post -4.33 EPS for the current year.
Warner Bros. Discovery Company Profile
Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.
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